Parker Drilling (PKD) Tops Q4 EPS by 1c
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Parker Drilling Reports 2017 Fourth Quarter Results and Amendment to Credit Facility
February 14, 2018 4:35 PM ESTHOUSTON, Feb. 14, 2018 /PRNewswire/ -- Parker Drilling Company (NYSE: PKD) today announced results for the fourth quarter ended December 31, 2017, including a reported net loss of $29.6 million, or a $0.21 loss per share, on revenues of $116.3 million.
The net loss includes a non-cash pre-tax loss of $4.3 million of asset and inventory write-offs associated with the sale of a rig in Papua New Guinea and $3.3 million of asset and inventory write-offs associated with select international drilling assets. Excluding these items, the adjusted net loss was $22.0 million, or a $0.16 loss per share.
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